Massachusetts Financial Services Co. MA Takes $39.06 Million Position in Terreno Realty Co. (NYSE:TRNO)

Massachusetts Financial Services Co. MA acquired a new position in Terreno Realty Co. (NYSE:TRNO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 660,080 shares of the real estate investment trust’s stock, valued at approximately $39,064,000. Massachusetts Financial Services Co. MA owned about 0.68% of Terreno Realty at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd increased its holdings in shares of Terreno Realty by 7.2% in the 1st quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 197 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Terreno Realty by 5.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,546 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 269 shares during the last quarter. Caprock Group LLC raised its position in Terreno Realty by 2.1% during the first quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock valued at $960,000 after purchasing an additional 292 shares in the last quarter. Whittier Trust Co. lifted its stake in Terreno Realty by 123.4% during the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 337 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Terreno Realty by 0.9% in the 1st quarter. American International Group Inc. now owns 41,600 shares of the real estate investment trust’s stock worth $2,762,000 after purchasing an additional 368 shares in the last quarter.

Insider Transactions at Terreno Realty

In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 7,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the transaction, the president now owns 402,164 shares of the company’s stock, valued at approximately $27,560,298.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,643 shares of company stock valued at $1,277,581. Company insiders own 2.40% of the company’s stock.

Terreno Realty Stock Performance

Terreno Realty stock opened at $69.48 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market cap of $6.73 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.20 and a beta of 0.90. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $71.63. The firm has a 50-day moving average of $68.13 and a 200-day moving average of $62.34.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The business had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Sell-side analysts expect that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 2.82%. Terreno Realty’s dividend payout ratio is 93.75%.

Analyst Ratings Changes

TRNO has been the subject of a number of recent research reports. Mizuho restated an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a research report on Thursday, September 5th. Scotiabank boosted their price objective on shares of Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. JMP Securities increased their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and issued a $70.00 price target (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Finally, BNP Paribas began coverage on Terreno Realty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.56.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.